In the last several sessions Ariel Way, Inc. (PINK:AWYI
) has been traded more actively. Yesterday the stock got a new 52-week volume high. AWYI is apparently planning to reemerge.
Yesterday, AWYI issued a press release announcing the "re-launch" of its website. At the end of the day AWYI closed up 33.33% at $0.0012 on 242 million shares.
Earlier this month, on Mar. 6, there was another press release announcing a letter to shareholders from Arne Dunhem, CEO of AWYI. The same press release had been previously published on Feb. 29. Both times the market reaction was limited.
In addition to the press release, another event was a factor for the market performance. Mr. Dunhem had a chat with interested people in a chat room on the website of AWYI.
While Mr. Dunhem has stated plans to bring the company back to life in the letter, in the press releases and during the chat there are a lot of questions to be answered still. One of them concerns the filing of necessary documents, and providing financial data.
At this point, not much is certain other than the plans of AWYI's management to become profitable and transparent - plans and promises made by many a pink sheets company. It will be interesting to see whether AWYI manges to deliver.